The first utility-backed NFT in South Africa is being introduced by Bitmart in the guise of a fun card game. Its most recent offering aims to give anyone in South Africa an easy way to start investing in NFTs and cryptocurrencies, as well as more experienced NFT and cryptocurrency investors wishing to boost their income. You won’t just be buying a pricey NFT asset; you’ll also get dividends that you can get through the simple interface of Bitmart.
This is made feasible by a sizeable percentage of each Yield Token’s purchase price being invested in cryptocurrency mining, yield farming, staking, and decentralized finance protocols. The Polygon Chain, where these NFT cards are produced, is where the yields are handed out.
The investments are made by the cryptocurrency professionals at Bitmart and are done so in accordance with a tight investment plan that maximizes the use of yield farming, staking, and crypto mining in order to produce the maximum profits. The quantity of NFT owners’ existing Yield Tokens in the pool will then determine how much of these yields can be claimed by them each month; the larger your stake in the rewards, the more Yield Tokens you own.
With Bitmart’s NFT product, users can purchase an NFT that they can keep as an investment while also earning monthly yields that effectively act as interest for holding your tokens. Bitmart is also running a competition where anyone who has bought one of its NFTs has the opportunity to win a free yield token to add to their collection.
How to Access Bitmart Utility-backed NFT
You must first buy an Access Token from Opensea.io in order to invest in the Bitmart NFT ecosystem. On the Bitmart website, you may now use Rands to buy an Access Token. Then, after purchasing your NFT Access token, you may go to Opensea.io and purchase your yield tokens there, or if you’d rather pay with Rands, you can do so directly on Bitmart’s website here. In order to get monthly yields on your yield tokens, you will need one Access Token per wallet.
These provide you access to the Bitmart NFT platform and are available for 0.05 ETH. Then, you can increase your profits by purchasing Yield Tokens, which are cards with ratings ranging from one to ten. Depending on the rank of each card, the yield tokens can be anywhere from R2,500 and R25,000. A level one card, for instance, would cost R2,500, while a level four card would cost R10,000. You can create a deck of cards that can be used in an entertaining virtual board game by owning a number of Yield Tokens.
Your objective is to place each of your cards on the board next to an enemy card such that its attack/defence value is greater than the adversary’s. Each card has an attack/defence value on each of its four sides. The round, and ultimately the match, is won by the player who transformed the most cards to his color.
Each Yield Token is an investment into an NFT that yields actual returns in addition to their use in a digital board game.